8-KOther EventsExhibits & Filings

SIMON PROPERTY GROUP INC. 8-K Report, Corporate Update (May 7, 2014)

Filed May 7, 2014For Securities:SPGSPG-PJ

Summary

This Form 8-K filing from Simon Property Group, Inc. (SPG) on May 7, 2014, primarily announces key details regarding the previously disclosed spinoff of its subsidiary, Washington Prime Group Inc. (WPG). The board of directors has set a record date of May 16, 2014, for the distribution of WPG common shares to SPG stockholders. For every two shares of SPG common stock held on the record date, shareholders will receive one common share of WPG. The distribution is slated to occur on or about May 28, 2014. This event represents a significant corporate action for SPG, as it will separate a portion of its assets and operations into an independent entity. Investors should pay close attention to the implications of this separation on SPG's future business focus, financial structure, and potential value realization from the spinoff.

Key Highlights

  • 1Simon Property Group (SPG) announced the record date for its previously announced spinoff of Washington Prime Group Inc. (WPG).
  • 2The record date for the spinoff is set for 5 p.m. Eastern Time on May 16, 2014.
  • 3SPG shareholders will receive one common share of WPG for every two shares of SPG common stock held as of the record date.
  • 4The distribution of Washington Prime Group common shares is expected to occur on or about May 28, 2014.
  • 5This filing is an 8-K reporting other events, specifically detailing the operationalization of the spinoff.
  • 6A press release dated May 6, 2014, providing further details of the distribution, is furnished as an exhibit.

Frequently Asked Questions

This 8-K filing is to announce the specific dates and terms for the spinoff of Simon Property Group's subsidiary, Washington Prime Group Inc. (WPG), to SPG shareholders. It confirms the record date and the expected distribution date.

As an SPG shareholder recorded as of May 16, 2014, you will receive one common share of Washington Prime Group for every two shares of Simon Property Group common stock you own.

The distribution of Washington Prime Group common shares to eligible SPG stockholders is expected to occur on or about May 28, 2014.

The record date is the specific date on which a shareholder must be registered with SPG to be eligible to receive the distributed shares of Washington Prime Group. Shareholders must own SPG stock by the close of business on this date to participate in the spinoff.